Solar Photovoltaic Glass Market : Global Distributors, Traders and Dealers Marketing Channel Future Trend & Size Prediction to 2026
According to the report, the global solar photovoltaic glass market garnered $4.5 billion in 2018 and is expected to generate $37.6 billion by 2026, registering a CAGR of 30.3% from 2019 to 2026.
The tempered glass segment to maintain its leadership status during the forecast period
Based on type, the tempered glass segment held more than two-fifths of the total share of the global solar photovoltaic glass market in 2018 and is expected to maintain its leadership status during the forecast period. This is due to this type being stronger and safer than any other type of glass
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Drivers, restraints, and opportunities
The surge in demand for residential applications and supportive government policies for using photovoltaic technology drive the growth of the global solar photovoltaic glass market. However, high initial costs hinder the market growth. On the other hand, the rise in demand for renewable energy creates new opportunities in the industry.
Asia-Pacific to continue its lion's share by 2026, North America to follow
Based on region, Asia-Pacific contributed to the highest share, accounting for more than two-thirds of the global solar photovoltaic glass market in 2018, and is estimated to continue its lion's share during the forecast period. This is due to regulations supporting photovoltaic panel installation and the rise in solar panel installations.
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Key Findings of the Solar Photovoltaic Glass Market:
o In 2018, the Asia-Pacific market held a share of over 68% in the solar photovoltaic glass market size.
o The tempered glass segment is expected to hold a dominant position in the solar PV glass market share during the forecast period.
o The anti-reflective coated glass segment is projected to grow at a CAGR of 31.6% by 2026.
o The Asia-Pacific region dominated the solar photovoltaic glass market in 2018 and LAMEA is expected to grow with the highest CAGR during the forecast period.
Region-wise, the market is segmented into North America, Europe, Asia-Pacific, and LAMEA. The Asia-Pacific region holds a dominant position in the market and LAMEA is expected to grow with the highest CAGR of 31.0%, during the forecast period.
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